Epic bidding war breaks out in the Den 💷 | Dragons' Den – BBC
I am actually you know physical tremors in my hands and my legs so pretty nervous but Wayne thinks his wife Anna is just as stressed dealing with a tricky situation
back home in Norfolk I've got two young sons and both of my son's had just got chickenpox soyeah she's under pressure at home at the moment as well what are they do you think they're dangly bits dangly bits definitely dangly bits really helpful thanks Leah Wayne is hoping that bagging a dragon investor can make his part-time business start going through the gears at the moment
I do still what five days a week had software companies and so it's a little bit of a juggling act to work this in my spare time hi I'm Wayne I'm the founder of rehook and I'm looking for 50,000 pounds for a 15% share in the company rehook
is the original tool that gets your chain back on your bike without the mess it's really lightweight and it attaches onto your bike frame so it's always ready whenever you need it it's very simple to use if your chain comes off simply grab the chain that's all put
it over the top spin and you're back on your bike I had the idea for the tool after dropping a chain on the way to a meeting and arriving late with oil-stained hands and a soiled shirt there was no effective solution on the market so I developed the
product of the last two and a half years we've done one hundred and fifty thousand pounds in revenue on roughly forty percent year-on-year growth all of this has been achieved in my spare time outside of working full-time at the startup company renovating a house as well as having
two young sons thank you for listening why don't we go up and have a look a tool for getting a slip chain back on a bicycle is the product that software developer Wayne Taylor is hoping will hook a dragon can you do it without the tool now okay
Griese has it said greasy hands I can't make a number of that breaking an egg Wayne's offering to hand over 15% of his company in return for 50,000 pounds right what can you show us your hands I mean that wouldn't stop me going into a meeting with it
tase Levani is first to get to grips with the cycling gizmo Wayne so basically you demented a hook that can rehook and that's what's called a hook it's yet it's a very simple product it's a finger spanner for a bite yeah it's you know it's a specific tool
for a specific job ciothing I've seen something else before where you can use to get the chain back on in a simple way and I mean there isn't a specific tool designed for this purpose so it's unique Wayne as ever concerned you that the reason there is no
tool designed for this purpose it's because there isn't a demand for one people quite happy to use their finger yeah but the minute I made that statement I remembered you said you'd had a hundred and fifty thousand pounds of sales in two and a half years yeah which
actually doesn't fit well with statement I just made I actually was in the same point of view when I first started I was like is this is this a real thing but it's reached a point now where it needs to be taken more seriously I think Theo Paphitis
backpedals as he realizes the entrepreneurs impressive sales figures mean it might be prudent to reserve judgment about his product Peter Jones now wanted to know about Wayne's work commitments that are keeping the bike business a side business Wayne what do you do what's your job and so I
work at software companies it's a chief technology officer what do you earn normally I am sixty two and a half thousand pounds at the moment do you think that you're gonna earn enough money from this to actually have a career or a business or have you got other
ideas that you're gonna grow i've got other ideas to bring in to to rehook and broaden the product range what's your other ideas anything more exciting than this so we've got we've got a performance cycle in products as well which you like to sort of introduced for time
trial cyclists that sounds like a very small niche opportunity well I mean the number of time trialist is you know it's vastly increasing so what's your last year's sales I'm suited eighty thousand pounds in revenue eighty thousand pounds yeah okay on your net profit net profit for this
last year was twenty thousand pounds okay so what do you expect to do this year and this year to do one hundred and sixty thousand and based on sort of growth rates we've seen looking at a million pounds revenue over the next three years which is half a
million pounds in year three the entrepreneurs bold projections about the growth of his business have piqued the interest of all five Dragons Sarah Davies is next to grill a Gadgeteer win what impresses me is when you sin with very minimal effort because you're doing this around a busy
family life and a job you've made 80,000 pounds of the sales last year 20,000 pounds of the profit that to me is you're proving that there's a concept I want to make you an offer but it's nothing like what you came in asking for because I'm sat here
you're thinking I don't know if this guy should be even giving up his job so I think I've come up with a compromise okay what I'd like to propose you do is you drop down to just three days a week so you keep your income coming along and
I'll put the 50,000 into the business but not to pay your salary because you're going to keep working okay I'm taking all the risk here so for that I'd want half of the business with you however however if you can repair me my money in 12 months which
should be really easy I would drop my show holding down to 30% Sara Davies becomes the front-runner in the race by tabling an offer but unusually she wants the entrepreneur to continue working to give an element of stability within the deal earlier Theo Paphitis manually replaced a chain
with a minimum of mess has that made him put the brakes on the opportunity to invest Wayne I don't agree with Sara I think the way she's made an offer to you it's like you're playing at this you carry on part time I think anybody who goes and
creates something that replaces a mucky finger and then sells a hundred and fifty thousand quids worth has convinced me I can put into 300 outlets overnight but my view is I do want you to pack up what you're doing because the value for me is not just this
alone the value is you so I will give you the fifty thousand pounds in return though I want 40% of the business okay Wayne you've just had two awful offers and I would if I was standing there feel quite disrespected I think you're incredibly investable and I'm gonna
offer you all of the money and no buyback options no stealing nearly all of your company I'm gonna offer you all of the money for 30% okay is that a deal don't feel under pressure Peter Jones undercuts his fellow dragons and offers Wayne better terms for his cycle
product business tej Levani is now ready to have his say on the tightening tool Wayne you made quite an impression and I think there's a lot you can do with this in terms of growing this product I think internationally you're scratching the surface we can sell in 70
countries China India the whole world what's beautiful about it it's so simple so I'm gonna make it all for two okay my offer is 50,000 pounds for 25% for the business so Wayne this is a really nice product it looks good I love the branding it clearly has
got a lot about it people are buying it without really enough exposure so it won't surprise you that I'm going to make you an offer I'm gonna offer you all of the money I want 25% of the business the entrepreneurs product has caused a chain reaction of offers
from all five dragons who are now competing to get their claws into a deal weird before you go and talk to the wall okay I would like to work with you but I realize my offers no longer the best offer on the table I stand by that I
want to controlling stake in your business until I'm paid back but I'd be willing to drop to 25% longer-term I have done exactly what you've done my journey is exactly the journey are about to go and the differences I did it in the craft market you're about to
do in the cycling market which is a bigger market and bigger opportunity this is now bit boring Wayne would you like to just think before you get bombarded with Wayne go to the back have a chat with yourself and have a reflection before you do that way the
only person who's got proper distribution is me that's not true course it is we're gonna put it into camera shop Wayne wait God think there's so much noise why don't you go to the back it's a little bit quieter thank you thank you all after a bit of
Dragon RG bajji Wayne has five offers to mull over Sarah Davies will have her demand for 50% of the company once her money is paid back Theo Paphitis is offering to place the product in his three hundred retail outlets but wants 40% in return Peter Jones wants a
smaller 30% stake was Debra Medan antes Levani are both seeking 25 percent of the business but all five of the offers are asking for more than the 15% that Wayne is prepared to give away so I'm absolutely overwhelmed by everybody's of response Anya and your offers but I
think Deborah wrote liked it I [Applause] really want to do I really oh I'm very excited well done yeah well done thank you so much pizza yeah I'm not even gonna say well done Dee I mean I thought you were brilliant but obviously with that decision-making by questioning
on your bike after a full house of five offers Deborah Medan has the trump card and hooks the deal the cycle gadget entrepreneur rides off into the sunset with a 50,000 pound investment in his business a delighted dragon behind him and an exciting future ahead I can't believe
five five offers it's just great to get that justification that serious investors believe in that song yeah it's an amazing feeling you all smiles I have actually really really chuffed well done but is only a plastic finger and now the real business begins for Wayne returning home to
two children with chickenpox I just can't wait to get in touch my wife she's actually in quarantine was my son's and so it's gonna be go so so pleased [Music] you
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